Alpha and Omega Semiconductor Announced CEO Succession Plan

Alpha and Omega Semiconductor Announced CEO Succession Plan
SUNNYVALE, Calif., Jan. 9, 2013 (GLOBE NEWSWIRE) -- Alpha and Omega
Semiconductor Limited ("AOS") (Nasdaq:AOSL), a designer, developer and global
supplier of a broad range of power semiconductors and power ICs, today
announced that the Company has established a CEO succession plan and has
retained an executive search firm to seek a new CEO.
Since its inception 12 years ago, AOS has achieved a respectable market
position in the power semiconductor industry and attained an excellent
reputation among its peers in the market place. "At the age of 67, it's
overdue for me to plan my retirement," said Dr. Chang. "In executing our
strategic roadmap for diversification, we have established a solid foundation
for growth. Now is the time for a dynamic new leader to take full advantage of
this momentum and lead AOS to the next level," Dr. Chang continued.
As the founder, CEO, and Chairman of the Board, Dr. Chang brought AOS to be
among the world's leading Power semiconductor suppliers. He started AOS in
2000 with very limited funding and a handful of employees and built it into a
successful public company as of today, with over $350 million annual revenue
and a very strong balance sheet. His relentless drive for excellence has
positioned AOS well to become the best power semiconductor company in the
world. In addition, as a visionary, Dr. Chang has instilled a company culture
that empowers employees to fully unleash their potential and talent.
The Board is taking a thoughtful approach to the CEO succession process,
including the formation of a search committee, to identify and recruit the
best candidate to lead the next chapter of AOS' growth. During the search
period, AOS' business operations will continue as usual with Dr. Chang as the
CEO. He will work closely with the new leader once identified to ensure a
seamless transition. Upon completion of the transition, Dr. Chang will
continue to serve in the capacity of Chairman of the Board.
Forward-Looking Statements
This press release contains forward-looking statements that are based on
current expectations, estimates, forecasts and projections of future
performance based on management's judgment, beliefs, current trends, and
anticipated product performance. These forward looking statements include,
without limitation, the statement relating to the CEO's Succession Plan.
Forward looking statements involve risks and uncertainties that may cause
actual results to differ materially from those contained in the
forward-looking statements. These factors include, but are not limited to, our
ability to introduce or develop new and enhanced products that achieve market
acceptance; the actual product performance in volume production; the quality
and reliability of our product, our ability to achieve design wins, the
general business and economic conditions, our ability to integrate and ramp up
production at the Oregon fab facility; the state of semiconductor industry and
seasonality of our markets, and other risks as described in our SEC filings,
including our Annual Report on Form 10-K for the fiscal year ended June 30,
2012 filed on August 31, 2012. Other unknown or unpredictable factors or
underlying assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking statements.
Although we believe that the expectations reflected in the forward looking
statements are reasonable, we cannot guarantee future results, level of
activity, performance, or achievements. You should not place undue reliance on
these forward-looking statements. All information provided in this press
release is as of today's date, unless otherwise stated, and AOS undertakes no
duty to update such information, except as required under applicable law.
About Alpha and Omega Semiconductor
Alpha and Omega Semiconductor Limited, or AOS, is a designer, developer and
global supplier of a broad range of power semiconductors, including a wide
portfolio of Power MOSFET, IGBT and Power IC products. AOS has developed
extensive intellectual property and technical knowledge that encompasses the
latest advancements in the power semiconductor industry, which enables us to
introduce innovative products to address the increasingly complex power
requirements of advanced electronics. AOS differentiates itself by integrating
its Discrete and IC semiconductor process technology, product design, and
advanced packaging know-how to develop high performance power management
solutions.
AOS's portfolio of products targets high-volume applications, including
portable computers, flat panel TVs, LED lighting, smart phones, battery packs,
consumer and industrial motor controls and power supplies for TVs, computers,
servers and telecommunications equipment. For more information, please visit
http://www.aosmd.com/.
CONTACT: Alpha and Omega Semiconductor Limited
Investor Relations
So-Yeon Jeong
408-789-3172
investors@aosmd.com
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